Advanced
batteries are rechargeable PLI (Poly Lithium Ion) batteries. These
batteries find applications in automotive and electric vehicle
industry along with laptops and other electrical products. Advanced
batteries posses some of the unique properties namely light weight
and compactness owing to which they are gaining popularity over
conventional batteries. The affluent commercialization and increased
adoption of electric motor vehicles has spurred growth in global
advanced batteries market. There has been a substantial growth in the
market over the last couple of years and the trend is forecasted to
see a rise in the next five years.

The
U.S. and U.K are some of the key regions wherein advanced batteries
are widely preferred. The growing awareness of using energy efficient
products in these regions is expected to spur the market growth. The
other key regions following the practice are Germany, China, Japan
and India. Advanced batteries have major application in Hybrid
Electric Vehicles. High fuel consumption and growing carbon emission
have always been a restraining factor in the sales of automobiles.
Electric motor vehicles have less carbon emission and reduced fuel
consumption which in turn has increased the sales of HEV’s, thereby
increasing the consumption of advanced batteries.

Scarcity
of fuel and increased carbon emission from automobiles has bolstered
the demand for electric vehicles globally. Growing awareness towards
utilization of environment friendly products and growing market of
notebook/laptops are some of the major driving factors for the
market. The efficiency of electric vehicles is less compared to the
fuel motor vehicle which is expected to dampen the electric vehicles
market. This in turn is expected to slow down the advanced batteries
market growth However; ongoing developments are expected to help in
manufacturing energy efficient electric vehicles in near future